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What's an annuity can you pass it on when you die

(6 Posts)
IamSlave Sat 13-May-17 16:51:59

Dm had annuity, she never mentioned it, what is it, is t(here likely to be any money paid from it? (she has passed Way)

notapizzaeater Sat 13-May-17 17:00:43

Sorry for your loss.

Depends on the annuity - some will pay out to dependants some won't - you'd need to see what they bought,

IamSlave Sat 13-May-17 17:06:25

Ok is it like a pension? Have written to them just waiting to hear back and wondered in the mean time.

notapizzaeater Sat 13-May-17 17:07:39

You can use your private pension money to buy one. It pays out each month.

If you die soon after they've won, if you last a long time you've won !

catkind Sat 13-May-17 17:08:56

An annuity is a regular payment you get till you die. It's what you normally buy with your pension fund when you retire. You can also get joint ones that pay out until both of a couple have died. Wouldn't normally pay out to anyone else, no.
Sorry for your loss.

IamSlave Sat 13-May-17 17:18:40

Thanks Cat

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